Originally Posted by KC native
1. The Fed doesn't control tax payer money. They influence banks and credit (creation and destruction).
2. The Fed discloses where money goes and regularly releases that information. The anti-Fed types ignore that information.
3. The Federal Reserve was set up the way it is to keep it independent of political pressure. Since Greenspan, we've seen a lot less independence but historically the Fed has been independent so neither political party can assert they've taken actions to either goose or crash the economy for a certain political party.
#1 is an interesting thought... but how is it they loaned out 2.2 trillion, did they just imagine that money up to loan to God knows who?
Doesn't bank money atleast partially flow from taxpayers, is all of the money they control a banking/corporate construct?
Even if it comes from corporations and all of the arcane to the layman meanings and mechanisms of money, why is it that they are not forced to answer for where it goes... in short, who do they answer to?